Two-Unit Commercial
For Sale
$379,999
381 N 9th Avenue, Scranton, PA 18504
Residential Income, Scranton, PA
Property Size3,288 SF
Lot Size0.36 Acres
Price / SF$115.57
Days on Market305
Property Features for 381 N 9th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
HC
Zoning description
Commercial
Bathrooms
3
Half bathrooms
3
Rooms
Basement, Bathroom 2, Bathroom 1, Bathroom 3
Parking features
Parking Lot
Security features
Security System
Window features
Window Coverings, Blinds
Interior features
Breakfast Bar, High Ceilings, Recessed Lighting
Exterior features
Private Entrance
Basement
Crawl Space
Appliances
Refrigerator
Lot features
Landscaped
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
West on Lackawanna Ave, left onto N 9th Ave, property on right
Standard status
Active
APN
1451808000403
Size
3,288 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Highway Commercial District
Tax Annual Amount
8405
Legal Description
Highway Commercial District
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central A/C
natural gas heat
security system
kitchenettes
conference rooms
ADA-compliant doors
Building Details
Year built
1987
Floors in Building
1
Number of units
2
Flooring type
Marble, Combination, Carpet, Tile, Wood
Building materials
Stucco
Roof type
Composition
Architectural style
Other
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties · Berkshire Hathaway HomeServices
(570) 585-1500
Listed By:
Judy Cerra · License #RS314785
(570) 903-5846
Added: Oct 22, 2025
Changed: Aug 19
Last Checked: Aug 22 at 9:06PM
MLS# SC255497
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit commercial property includes 3,288 square feet available for occupancy, with the second unit already leased. The available space features cubicles, built-in shelving, multiple restrooms, two kitchenettes, conference rooms, oversized ADA-compliant doors, and a private entrance. Interior finishes include marble, carpet, wood, and tile flooring, along with high ceilings and recessed lighting.
The property has central air, forced-air natural gas heat, a composition roof installed in 2016, and a security system with cameras. An on-site parking lot provides 11 spaces. Public water and public sewer serve the property, which was built in 1987 and is zoned HC. Located at 381 N 9th Avenue in Scranton, Pennsylvania, the property offers a commercial building configuration with an existing lease and space for additional occupancy.
The property has central air, forced-air natural gas heat, a composition roof installed in 2016, and a security system with cameras. An on-site parking lot provides 11 spaces. Public water and public sewer serve the property, which was built in 1987 and is zoned HC. Located at 381 N 9th Avenue in Scranton, Pennsylvania, the property offers a commercial building configuration with an existing lease and space for additional occupancy.
Key Highlights
- 3,288 square feet available within a two‑unit commercial property
- One unit is already leased
- 11‑space on‑site parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,115
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,300
$542.3K
Cap Rate 7%
$387,357
$387.4K
Cap Rate 9%
$301,278
$301.3K
Market Conditions
NOI Build-Up for 3,288 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.4K $12.60/SF
− Vacancy
−$2.7K −$0.82/SF
EGI
$38.7K $11.78/SF
− OpEx
−$11.6K −$3.53/SF
NOI
$27.1K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$542,300
Cap Rate 7%
$387,357
Cap Rate 9%
$301,278
Alternative Uses
Best Use
Office B
$603.6K
$528.2K – $704.2K
NOI $42,253 @ 7.0% cap · market cap 11.12%
Second Best
Multifamily LT 5
$387.4K
$338.9K – $451.9K
NOI $27,115 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$834.6K
$730.2K – $973.7K
NOI $58,419 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,848
Businesses Nearby
Explore this area
Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible commercial layout with one leased unit, public utilities, and on-site parking for business operations.
Where is this duplex located?
The property is located at 381 N 9th Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $379,999.
What are key features of this property?
This property features: 3,288 square feet available within a two‑unit commercial property; One unit is already leased; 11‑space on‑site parking lot
